Just had it confirmed. For anyone. Get another job if you can. This is unheard of across the sector
48 replies (most recent on top)
What you have to remember is that employee pay freezes are seen by Wall Street as a positive. It shows the company is keeping costs under control and maximising profits for investors. And its not discernible in the figures they report - just looks like the company is doing well.
On the other hand, board pay freezes and announcements about "we're all in it together" send a public negative message.
This is what is going on here - even above and beyond the board looting, this is all down to the dirty world of stock markets.
Next time I'm not working for a publicly traded company. I'm fed up with my fortunes being decided by a bunch of w@nkers playing games with my salary.
@ @3mwl+1izBbKoS When the board and CEO start taking pay cuts, freeing up their stock options and stop the share buyback then we employee might be more willing accept no merit increase but not until.
Post on linkedin , i did
Shame on them! Time will come
Going forward, I suspect that pay hikes for the global delivery centers too will be placed on hold. There is no way that with the revenue drops Q-on-Q, any hikes will be provided. Bonuses will be funded only if you are a Director or higher. Everyone else - tough luck.
In the last 10 years with zero payrises, with HP, HPE & DXC my Salary has shrunk
- - perhaps its time to reduce working time as DXC clearly dont get the message we've had enough of their cr-p
WFR started last Friday
So far 35% layoffs in americas
People at Kyndryl got 5%+
Atos got 3 - 5%
Both competitor Companies who are struggling but still gave raises.
Our A ho-e's banked the money themselves and told the rest of the staff they don't have money for any raises.
Selfino+Finchy, Vinny baygirl are bleeding the company dry.
Copy of email sent to EMEA.
I don't give a sh1t anymore.
"
To: EMEA employees
During the Q1 earnings call, Mike Salvino highlighted that while our transformation journey is creating value for our customers and colleagues, we have had shortfalls in the quarter and did not deliver on our global financial targets.
In Q2, we are laser-focused on accelerating cost-optimisation to support DXC's growth. Our plan comprises multiple levers and though we are making good progress we need to go further.
Therefore, after careful consideration, we need to take the difficult decision to defer our plans for merit increases for colleagues except in the Global Innovation & Delivery Center (GIDC) countries - Poland, Slovakia and Bulgaria. For colleagues in GIDC countries, further details of the next steps of the process will follow in due course.
We will regularly review our progress against the cost optimisation plan. If we are able to exceed those targets, we could revisit plans around merit increases later this fiscal year.
I recognise this news comes at a difficult time for everyone in our region. Our goal for cost optimisation is to improve our margins and position us for growth and to create room for investment. I am confident that the actions we are taking in the short term, however painful, will help make DXC a better business in the long term.
Please remember to join us for the EMEA Town Hall on September 14 to hear more about our transformation journey and cost optimisation plan.
In the meantime, if you have any questions please contact your manager.
Sincerely,
Chris Halbard
President EMEA
Please note: mandatory increases for certain entities, based on a collective agreement, will be paid as per the MINC regulation.
"
I have had enough of the stealing and bull from the top.
So many are people leaving not on redundancy but for better paying jobs.
There's a big back log off work and no one wants to cone to DXC.
Delaying these raises is just short term thinking, and will sink the ship.
Customers are noticing these holes and commenting to engineers, long term contracts won't be renewed.
Sally and co don't care about that though as they keep getting their big raises.
He doesn’t care about you nor does anyone else at DXC. The only care you are going to get is from yourself by looking for a new job. Get started yesterday.
Whose going to pay for the extra increase in food, energy costs, family costs?
Every company across the world is giving raises except for DXC.
Does this guy Salvino have any conscience?
"So my advice is to prioritize your people and treat them well. It’s more than a nice idea, it’s the key to sustainable success for any growing business."
https://www.google.com/amp/s/chiefexecutive.net/how-a-former-accenture-ceo-turned-a-failing-leadership-into-growth/amp/
Bullshtter
Asolute fraud and lies, they say the company isn't doing well so we can't give raises yet to not true for them.
In June kenny Sharp got a 112% rise, Salvino took a 32% rise then within 6 weeks suddenly can't give the staff a raise. Who are they trying to fool?
DXC Technology Co reported fiscal year 2022 executive compensation information on June 13, 2022.
In 2022, five executives at DXC Technology Co received on average a compensation package of $9.6M, a 25% increase compared to previous year.
Michael J. Salvino, Chief Executive Officer, received $29M in total, which increased by 32% compared to 2021. 87% of Salvino's compensation, or $25M, was in stock awards. Salvino also received $2M in non-equity incentive plan, $1.4M in salary, as well as $239K in other compensation.
For fiscal year 2022, the median employee pay was $44,156 at DXC Technology Co. Therefore, the ratio of Michael J. Salvino's pay to the median employee pay was 650 to one.
Kenneth P. Sharp, Chief Financial Officer, received a compensation package of $6.2M, which increased by 112% compared to previous year. 79% of the compensation package, or $4.9M, was in stock awards.
Mary E. Finch, Chief Human Resources Officer, earned $5M in 2022, a 10% decrease compared to previous year.
William L. Deckelman, Jr, General Counsel, received $4.2M in 2022, which increases by 11% compared to 2021.
Vinod Bagal, Executive Vice President, Global Delivery, earned $3.9M in 2022, a 13% decrease compared to previous year.
I think the directors end executive board giving themselves pay rises at the start of the year. Promising it to staff then cancelling for staff after their own pay and rewards was sorted is morally repugnant. I don’t know of any comparable company that isn’t awarding pay rises this year. DXC is in a class of its own. It’s wrong.
"In the US we haven't heard anything yet"
But they've already started WFRs here...
Ffs in a year of global energy and inflation crises how can they not give a raise?
All that bleating about looking after staff, all that talk of COLA Cost Of Living Allowance is built in to our contracts , DXC values, we're turning things around, executives justifying millions of $ raises fir themselves.
This is nothing short of a scandal and once it's publicised it will be so embarrassing fir DXC management how it conducts business, such a level if un ethical behaviour.
You know when they have those town hall meetings and they read out names of people coming up to significant work anniversaries? That's basically a celebration of mediocrity and of people who have been beaten down to the stage where they are scared to apply for a job on the outside. More or less the same as that old indoctrinated guy in Shawshank Redemption. The executive leadership doesn't care about you, they only care about extracting as much money as possible, while denying you even anything matching inflation. They're just a cartel, headed by a succession of sociopaths.
"Is this just effecting EMEA?"
Nope - it's "global"... In the US we haven't heard anything yet
"Is this just effecting EMEA?"
Nope - it's "global"...
Is this just effecting EMEA?
Has anyone else heard about raises?
OK, one more time....
The only thing being raised is the number of staff being laid off. The company can't save $500M any other way.
You will not get a raise at DXC. If you stay long enough, you'll get WFR and whatever payout comes your way in your country. If you stay too long, you won't even get that - the company will go bankrupt and you'll leave with nothing.
If you:
- Want more money
- Want more training and development
- Want to build a proper career
Then your best option is to brush up your CV, practice your interview skills, and go get a job with a decent company. A company that does what it says. A company that behaves ethically. 'Cause if you stay with DXC, you'll get nothing. There's no bonus for loyalty at that place.
This was all planned and known about in May.
The execs took their raises then put in a plan for bad quarter so they could at least delay the raises.
They can pretty much cook the books to show what they have billed, so they can pull one quarter down or show one quarter up.
So in order to stop employee raises they showed a bad quarter but the management made sure they took their money.
Total crooks.
FY22 EMEA $5.117B US $4.775B UK $2.295B on annual revenue
(Australia $1.549B Rest of World $2.529B)
https://www.statista.com/statistics/726661/dxc-technology-annual-revenue-by-region/
EMEA is the most expensive to do business, with not much revenue and limited margins
that statement has come up before and has been shown to be not true on the revenue part - EMEA (including UK) has higher revenue than North America
Leaving DXC one year ago was a fantastic decision. 😀
You can keep bashing at the company and the senior execs, but to be candid what can they do, when half the company is not working to their optimal capacity and quite a lot of the employees here are just riding on top of some hard working dxc'ers in the accounts. EMEA is the most expensive to do business, with not much revenue and limited margins. So the company hires where the labour market and margins are favourable. So take a chill pill and contribute to the growth of the company.
Fool me once shame on you, fool me twice shame on me. Come on people you were never going to get sh-t. The only way is to leave.
I have 2 reqs open in India for more than 6 months. NOBODY wants to join DXC, we can't hire anyone. And now they are preparing to reduce the team further due to cost savings. The quality we deliver is basically sh-t and in line with the salaries we pay and raises we give to the people. I am waiting for my European package to come, hopefully i will soon get out of this misery and take one of the jobs they are offering me on th daily basis via Linked In.
So our leaders and HR might have misunderstood the whole 4 day week thing, expecting us to work 5+ days but only pay us for 4 however they sadly seem to have perfected quiet quitting and quiet firing. I can't see why anyone would do more than their contractual minimum and I also see loads of people leaving this sorry excuse for a company.
Maybe they are hoping to win highest attrition rate in the biz?
Rises are on the way for the executives. Once that is done and dusted, we will work on the rises for the rest of the employees. Employees are pillar of the organization and will be treated with respect and dignity.
It shows that DXC doesn't give a sh-t about us, e-mail yo people managers , why not send a broadcast email to all of us ! They are afraid! Fu-k Mike S
At this point, it sounds like UK only.
Which group of people feel the more vindicated?
The ones who earned a "1" appraisal
or
The ones who didn't.
It was done via email to people managers for them to spread the good news. The mail was from Chris Halbard.
Unions do not need to be consulted for this.
As the company does not recognise unions, there would be next to nothing the could do.
OK, perhaps on a site basis you could forego getting paid whilst on strike, but do you really think that would make an impact if the action is currently "nobody in the World (save for the Executive 'Leadership' Team) will receive a penny so that the ELT can get theirs"?
Guess who'd be a certain member of the hit-list...
This will be a scandal out in the press soon.
Mike and his gang take millions in pay, yet they haven't given anything to the staff.
And on all the slides he puts up "treating our staff" as a main part of his strategy.
Once clients find out this is how staff are being treated in this year of mega inflation I can't see them renewing as they will know that the staff are totally demoralised and won't be going the extra mile.
If there's no news soon, we will be making it known to the clients how DXC and Mike operate the pay system.
@jbe+1izBbKoS Are there many employees already in Unite and have they been consulted re this news as yet? Are Unite able to send an email to recruit staff to join?!?! Action must be taken.
Can't believe this is going to happen, there will be a big fall out.
Mike stop bieng a A ho-e otherwise the end is close.
Was an email sent out ? I am US based and haven't seen any official word
@ppi+1izBbKoS Most people are/were in Unite, but they are a bit toothless since Colin from Chesterfield left.